Mumbai, Oct. 24: The government is likely to price state-run Coal India’s initial public offering at the top end of the price range `245, raising about $3.5 billion, four sources with direct knowledge of the matter said.
A panel of ministers will finalise the offer price late on Monday, the sources said.
Coal India’s IPO, the largest in the country’s history, was subscribed more than 15 times by close on Thursday, with most bids at the top end of `225 to `245 price range.
At this price, Coal India, the world’s largest coal miner, would be worth $35 billion, ranking it seventh among India’s listed firms. Its shares will begin trading on November 4.